The Louisiana LNG facility is expected to create roughly 400 permanent jobs and 6,500 construction jobs. Officials call it the largest foreign investment in the state's history.

Australian company Woodside Energy announced Tuesday that it has approved a plan for a Louisiana LNG project. The company said the $17.5 billion investment will be made in the LNG project, pipeline, and management reserve.

The Louisiana LNG development is set to enhance Woodside's global LNG portfolio to approximately 24mtpa in the 2030s, accounting for more than 5% of the worldwide LNG supply.